Innocap teams up with newcomer Akira Capital to launch the Innocap Akira Commodity Fund LP

Innocap teams up with newcomer Akira Capital to launch the Innocap Akira 
Commodity Fund LP 
MONTREAL, Dec. 6, 2012 /CNW Telbec/ - Innocap Investment Management Inc. 
(''Innocap''), a strategic alliance between National Bank of Canada and BNP 
Paribas, has teamed up with Akira Capital Inc. ("Akira"), a new Montreal-based 
fund manager, to launch the Innocap Akira Commodity Fund LP (''Fund''). Akira 
specializes in commodity derivative investments and uses a discretionary, 
multi-strategy approach to trade in listed futures and options across all 
commodity sectors. 
Headed by Yves Martin, the firm currently has $25 million of assets under 
management and was named after a climbing wall located in Western France, 
which was at one point the most difficult natural climbing wall ever 
successfully climbed. 
Yves Martin founded Akira to manage funds for institutional investors and 
accredited investors with the aim of delivering positive absolute returns by 
combining a top-down and a bottom-up investment process focused on 
commodities. Mr. Martin is Akira's President and a former Vice President for 
Jefferies Financial Products in Stamford, Connecticut, after spending most of 
his career at Caisse de dépôt et placement du Québec ("Caisse''), one of 
Canada's largest managers of pension funds. Also on Akira Management team are 
Vice President, Investments Hervé Fefer, former commodities portfolio manager 
at Caisse; Chief Risk Officer Paul Turcotte, also formerly at Caisse; and 
trader and market Analyst Olivier Tardif-Drolet, former trading analyst on the 
natural gas desk of BP Integrated Supply and Trading. The four partners will 
also be looking to launch a second commodity fund for U.S.-based and foreign 
investors in the first half of 2013. 
The Fund joins other Canadian managers (Innocap Casgrain Bond Fund LP, 
Hexavest GTAA Fund LP, NBCAI Credit Dislocation Fund LP and Innocap Sigma 
Alpha GM+ Fund LP) on Innocap's Canadian Limited Partnership Structure which 
has reached $260 million in assets under management as of November 30(th), 
2012. The structure thus now houses five specialized Quebec-based managers 
with strong portfolio management skills and knowledge of local and 
international markets. The offering addresses investors' appetite for hedge 
funds while providing visibility for Quebec and Canadian managers. The Innocap 
platform provides a risk and asset-controlled environment for investing in 
hedge funds. 
About Commodities
According to the recent report by Citigroup, "The New Abnormal: 2013 
Commodities Outlook'', the end of the commodity super-cycle combined with 
extended periods of negative roll yield will cause investors to shift from 
simple long-only strategies to more enhanced-beta or alpha-focused commodity 
strategies. The same report also mentions that "exceptional rewards from tail 
risk events should continue to make commodities an attractive investment 
vehicle for a wide array of portfolio managers, as no other asset class 
provides such an opportunity from wildcards''. 
About Innocap
Innocap, which stands for Innovative Capital, is the result of 16 years of 
investments in hedge fund strategies with approximately $2.3 billion in assets 
under advisory as of November 30th, 2012. Innocap acts as the Investment 
Manager for the Canadian limited partnership structure and as Investment 
Advisor to Innocap Global Investment Management Ltd, which manages a 
Malta-domiciled collective investment scheme licensed as a Professional 
Investor Fund. Innocap offers hedge fund managed account solutions using a 
conservative approach to hedge fund investing with a strong emphasis on risk 
management, asset control and transparency. This structure increases control 
over assets; no money is invested directly in the managers' hedge funds. 
Created by an institutional investor for institutional investors, Innocap's 
core values, such as a transparent fee structure and no hidden conflicts of 
interest, are aligned with the high standards expected in the markets. For 
more information, visit Innocap's website 
About National Bank of Canada
With $178billion in assets as at October31, 2012, National Bank of Canada 
(, together with its subsidiaries, forms one of Canada's leading 
integrated financial groups, and was named among the five strongest banks in 
the world by Bloomberg Markets. The Bank has close to 20,000 employees and is 
widely recognized as a top employer. Its securities are listed on the Toronto 
Stock Exchange (TSX:NA). Follow the Bank's activities via social media and 
learn more about its extensive community involvement at and 
(The telephone number provided below is for the exclusive use of  journalists 
and other media representatives.): 
Jean Baram Innocap Investment Management Inc. Tel.: 514-390-7388 
Louis-Philippe Roy Innocap Investment Management Inc. Tel.: 514-390-7918 
SOURCE: National Bank of Canada 
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CO: National Bank of Canada
ST: Quebec
-0- Dec/06/2012 20:18 GMT